A trusted, experienced REALTOR® with extensive knowledge of the city and potential neighborhoods you are looking at is always your best resource.

But a major aspect of purchasing your home is the appraisal value. So who better to turn to for advice, than an appraiser-turned-Realtor?

Cindy Strahota is just that, and she gives us her unique perspective of what a potential home buyer should look for from the perspective of an experienced appraiser.

“Today’s buyers are more savvy and educated than ever thanks to the Internet. Take advantage of the World Disclosure of public records which differs in each state; start with your county and try the assessor, the treasurer, and the recorder of deeds.

You will probably find information about when the property was built; the square footage; how many owners there have been, and probably many more interesting things.”

Purchasing a home goes far beyond whether or not it has the kitchen of your dreams, a walk-in closet or enough fireplaces. You have to consider the neighborhood, traffic patterns, crime rates and more. This is where an appraiser comes in, and getting advice from an appraiser-turned-agent could prove invaluable.

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If you believe you are ready, the next question is, are you prepared? Just because you are ready, it does not necessarily mean you are prepared to know where and how to find the right house, and if you do, would you be fully prepared to make an offer?

Betty Jung blogs about what you should do to make sure you are prepared to jump when you find the house of your dreams.

“Get a copy of your credit report to make sure it is accurate and clear up any problems before you apply for a loan.

Figure out how much of a down payment you have and/or will need and obtain a pre-approval for a loan.”

Before you start your home search, make sure you have all of your paperwork and finances in order. That way, when the right house comes along you will be ready to snatch it up.

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However, REALTORS® should encourage clients to do their homework first, before hopping in the car and driving around town looking at properties. Realtors can do a lot of research for their clients, but clients can make your job a whole lot easier with a little researching, and pre-qualifying first.

Kyle Rovinsky blogs about some experiences he’s had with eager beavers, and how to prevent them from wasting time.

“Every day, I seem to be contacted by a new referral who wants to see every house on the market.

Before we even discuss one address, I need to make sure you are qualified. It’s a simple, painless process.”

You can teach your clients about all of the wonderful tools available to them on the Internet. You can also encourage them to research pricing and look at potential properties online before visiting homes in person.

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My wife and I have been looking at homes with our REALTOR® for six months, and we sill can’t find a home that meets our criteria. We are beginning to feel guilty that we are spending too much of our Realtor’s time. Is there a better solution?

Six months definitely seems like a long time to be looking. I recommend to buyers that I work with that we focus on narrowing things down to a specific area first. If you are having trouble agreeing on the area or areas you would like to live, it is going to take a while to find a home.

What is most important to you from the standpoint of location? Schools, shopping, work, transportation? If you have narrowed down the area, invite your Realtor over to your home. I have found that you can learn a lot about someone, or a couple, from their home, even if they are renting.

I had a couple that was very different. She clearly was focused on quality, and he was all about value. After visiting with them in their in apartment, I came up with a couple of neighborhoods that fit their requirements, but also appealed to her desire for nicer finishes and his desire for lower costs.

David Welch specializes in residential re-sales and new home construction at RE/MAX 2000 Realty in and around Orlando, FL.

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Housing hardships and complicated transactions are not localized to the foreclosure market. Even families that would otherwise be perfect candidates for a new home are finding it difficult to secure a sale. Much of this is due to tight credit and strict lending policies that have become the norm since the mortgage fallout. But, as with most things, persistence and hard work usually pays off, even when it looks like the odds are stacked against you.

Roxanne Govari shows us that where there’s a will there’s a way:

“To make a long story short, by the time we were able to remove the lien off the title, Bob’s loan had expired. After that, all the stated income loans disappeared so we had to apply with full docs, and since Bob had many properties, we couldn’t get any banks to approve his loan.

We applied through Bank of America and Wells Fargo as well as a few smaller banks with no luck. Finally, when we were getting ready to give up and started thinking of an alternative place for him to move to, one small bank took our application and approved the loan in 3 weeks. We closed shortly after that. The moral of my story? There are still good outcomes even in this tough market.”

Finding a bank to approve a loan after many have turned you away is the definition of persisence. Govari should be praised for her proper handling of this transaction. If she had thrown in the towel, it’s likely her clients would have also. REALTORS® who can  succeed in a tough market are sure to stand out once there’s a turn around.

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Yesterday, we brought you answers from the Ask A REALTOR® team about how to meet your real estate New Year’s Resolutions. According to a national survey commissioned by Move.com, one in six (15.4 percent) home buyers are considering saving up to buy a new home within the coming year. Below, we have more insight from our team about what home buyers can expect in 2010.

 45.1 percent of Americans say starting a home improvement project is a top New Year’s resolution for them. What home improvements do you think will bring the best value?

 John Agnello: “It comes at no surprise that 45.1 percent of people had home improvement on their list of things-to-do in the coming year. Home repair and improvements not only benefit you while you’re living in the home, but they also help to preserve and/or add value. They can even help make the home more marketable when it comes time to sell. While this answer can vary depending on the location and condition of your home, kitchens and bathrooms are typically the best places to spend your money. Some other smart remodel ideas may include adding a deck, finishing a basement, or even adding some extra curb appeal to your home through landscaping.”

Amy Downs:  “Hardwood floors, or flooring that is recent and upgraded, granite countertops and updated lighting throughout the home are valuable home improvement investments.”

David Welch: “People don’t buy houses- they buy kitchens and bathrooms. Let’s face it, the rest of the rooms are four walls with windows and doors.”

 9.1 percent say that fixing their credit so they can buy a home next year is their number one New Year’s Resolution related to real estate in 2010. What other real estate resolutions have you heard for the New Year?

 Sunil Varghese: “Based upon recent interactions, renters want to become owners, owners want to become renters, investors want to ’steal’ a property, and everyone wants a crystal ball.”

Christina Rordam: “My favorite real estate resolution so far is something I heard from a homeowner who plans to buy her home with the assumption that she will be able to pay it off in 15 years. If her property grows in value, fantastic, she will consider it a bonus. I applaud her realistic attitude in buying a home she and her family can actually afford. This attitude is shared by many buyers today, and it is in direct contrast to the attitude of years past when homeowners purchased with expectations of high increases in their property values each year. Buy a home you like with plans to pay it off as quickly as you can. You will be pleasantly surprised if, and when it makes leaps and bounds in it’s value.”

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Location is still one of the most important factors to consider when buying a new home. For singles or married couples, that could mean being in close proximity to entertainment and shopping. For professionals, it could mean being close to the office or  in walking distance to public transit. But for families, even though all of these factors play a role, finding a home in a good school district tops the list of location must haves.

Joe Cline blogs about  finding the right school for your child:

“Deciding upon a school district is often something that should be looked into prior to finding a home. Often the difference of only a few blocks can mean being in a favorable school versus being in one that does not suit your needs. There are many websites that allow you to compare districts and schools within a geographical area. These sites can even give you detailed information regarding demographics and academics statistics, such as the following:

District/School Test Scores – Each state may base their testing on different factors, but visiting Board of Education sites as well as school grading websites will give you a look into the academic performance of any school or district.”

Cline continues his post by offering other tips to help you decide what kind of school district will best fit your family’s needs. Researching the school district you plan to move to can keep you from making a costly mistake.

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According to a national survey commissioned by Move.com, one in six (15.4 percent) home buyers are considering saving up to buy a new home within the coming year. We asked the Ask a REALTOR® team to give us more insight into what these buyers can expect in 2010.

What extreme measures should a buyer be willing to take in order to buy a home in 2010?

Lora Davis: “Buyers, in many cases, will still be looking at short sales and bank owned REOs as the best values in 2010. Being willing to put in a little “sweat” after closing will get them the best buys. Many bank-owned and short sale homes need cleaning and refurbishing. Looking beyond the surface to potential will reap rewards in the long run.”

Steve Jackson: “The only ‘extreme’ measures that I would counsel my buyer clients to use in 2010 would be using ‘extreme’ caution…not to get caught up in the rush to buy ’something/anything’ just to get in under the tax credit deadline. I am of the opinion that the buyer must have clear and realistic goals regarding why they are buying, why they are buying NOW, what they are buying, how they are buying, and the list goes on.”

Michael Bunch: “Buyers need to seriously consider taking a manageable loss on the sale of their home to unload it so they can move up and work the percentage decreases in value to their benefit. Also, they might be able to get into a neighborhood that was out of their price point and probably soon will be again.

15.7% of buyers are looking for investment properties. What advice do you have for these buyers?

Sheri Moritz: “I work with a large number of investors in our market and have found the most valuable thing that most lack is knowledge and reality. I have yet to come across a new investor that tries to flip a house to find that it was much more than they thought they were going to be getting into. This is not a ‘learn-as-you-go-along’ type of venture, unless you have an extremely unlimited amount of money. Do as much research as possible and have contractors that you can trust who will give you realistic estimates of what repairs will cost and how long it will take to complete them. Then add about 20 percent  in dollars and 40 percent more in time.”

 
Deb Madey: “Investors need to clearly study and define their objectives. Once they have clearly identified the target criteria, an investor needs to identify, act, and move forward or away from possible properties quickly. If a property fails the criteria, move on. If it meets the criteria, do not agonize over insignificant personal perks a property lacks. A first-time homebuyer purchasing their primary home can and should focus on the details that make a house a home. Perceptive investors know their targets, make offers and walk away at pre-determined thresholds.”

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The holidays have traditionally been  a slow time for buying and selling homes. Families that are looking to buy or sell move their focus to buying gifts for each other, at least until the new year begins. But this winter is different for a number of reasons, and buyers who take advantage of the unseasonably high affordability may find that the lack of interest from other buyers is their best asset.

 Frank Becerra blogs about home buying this Holiday season:

“People that make a living off of real estate cannot predict a bottom, so what makes you think you can? One thing that can be learned from this mess is that most people missed the top due to greed, and most will miss the bottom if they haven’t already, due to the same.

Home buyers are now thinking about the holidays and are waiting for them to pass, so they can get ready to buy. Great deals are found in the holiday months as buyers wait and sellers see fewer offers- so why wait? The other thing that will happen is that there will be an added group of buyers looking to get the $8,000 tax credit who, just like those that go shopping on the 24th, will find the green socks with red polka dots as a gift (sorry if you own some).

Interest rates are at all-time lows, the tax credit is extended and expanded, and inventory is high. In some areas this has compelled so many buyers to move that sellers are seeing multiple offer scenarios that would rival Black Friday.  Shopping for a home while everyone else is putting gifts under the Christmas tree may be the best way to get the home you want without the competition.”

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In most markets, factors like price declines and high inventories have given buyers the upper hand. Now that the tax credit has been expanded to move-up buyers, there are even more buyers competing for desirable properties. First-time buyers can take their time finding the right home, but move-up buyers face a balancing act when buying a new home while simultaneously selling their existing one.

Anthony Licciardello blogs about moving-up and selling at the same time:

“Here is what usually happens: Many folks will look at homes for months until they find the home they like, make an offer, and if the homeowners accept it,  decide it’s time to sell.  Usually, that requires getting the absolute highest price for their house in less than 2 weeks.

The reality of this sale coming together are about the same as a herd of buffalo charging down the street, in a hail storm, between the hours of 5 and 7 pm, on the second Tuesday of the month, on an even numbered calendar day. While some might call this a sale on contingency, I wouldn’t. This is a sale on absolute luck.”

Licciardello continues his post with a list of questions that every move-up buyer should ask themselves. Banking on the sale of your current home to help pay for your new home can really put a strain on your timeline. Licciardello recommends using a qualified REALTOR® and an attorney to help you balance these complicated transactions

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